Biden Loses Debt-Limit Leverage as Business Groups Push for Talks With McCarthy
- Chamber, Business Roundtable press Biden to negotiate with GOP
- Goldman says US could be at risk of default by end of July
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President Joe Biden is under increasing pressure from business groups to negotiate with Speaker Kevin McCarthy on the US debt limit, a blow to the White House’s goal of avoiding talks with Republicans on raising it.
Some White House officials had wanted business groups to pressure McCarthy to take the possibility of a catastrophic debt default off the table. Such groups have traditionally held sway over Republican lawmakers, though their influence waned during Donald Trump’s presidency.